Volcker Sets Up Center to Examine Trust in Government

Paul Volcker, who served as chairman
of the Federal Reserve System from 1979 to 1987, said today that
he is forming a nonpartisan initiative to rebuild public trust
in government.

The goal of the Volcker Alliance is to catalyze new
thinking and action with respect to federal, state and local
government in the U.S. and abroad, Volcker said in a statement.

“Trust in American government has been declining for
decades and similar attitudes are evident in other
democracies,” he said. “Trust rests on confidence, and too
often government, at all levels, in the eyes of its citizens,
has been unable to respond effectively to the challenges of the
day.”

Those challenges, he said, include the recent controversies
involving the Internal Revenue Service and the Justice
Department, which “underscore the relevance that government’s
execution of its policies has on the lives of its citizens.”

The Volcker Alliance will sponsor research on government
performance, make recommendations for policy development and
implementation, and provide a forum for discussion of ideas and
tools to strengthen policy execution at all levels of
government, according to the statement.

Board members include William Donaldson, former chairman of
the Securities and Exchange Commission under President George W.
Bush, and Alice Rivlin, founding director of the Congressional
Budget Office and director of the White House Office of
Management and Budget under President Bill Clinton.